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20121209
20121209
Search Results 0 to 7 of about 8 (some duplicates have been removed)
will it take to break the stalemate? we'll get into that this morning. with two big roundtables of elected officials. the lawmakers. senator tom coburn for the republicans and deb jie stabenow for the democrats. and congressman hen sarlg. he said that for there to be a big deal, tax rates on the wealthy are going to have to go up. >> again, as the speaker has said, unfortunately what we see out of the president my highway or the high wway. one dollar revenue for 2.5 of spending reductions. now, after the election, it's a little bit of bait and switch. now he's asking for $1.6 trillion. for every one dollar of tax increase there's about 20 cents of spending reduction. >> i'm talking about the rates. if the rates go up, can the republicans accept that? >> no rep wants to vote for a rate tax increase. what that's going to do, is cause 700,000 americans to go from having paychecks to unemployment checks because of what that's going to do to the economy, hardworking americans are going to see a 2% reduction in their paycheck if they keep them. listen, the president, again, if he would do what h
years answering the same question. but right after the election, we sent a plan to the president where we gave revenues but looking for spending cuts. and he took three weeks to come back to us. he has gone on still on the campaign trail, still working through. but you have to understand, republicans have not waited to solve this problem and sat back. in the summer, we passed a bill that froze the rates, and passed it. it sat in the senate. we believe we want to solve this problem. we think this is our moment. this is our time. >> is the moment -- does it come down to this, where you would say, look, we'll give you higher marginal tax rates if we get something significant on spending, medicare, in return? >> it doesn't solve the problem. if the president is asking for higher ratings, he is asking for more revenue. most economists agree the best way to get that is through closing special loopholes. and when you close those, it makes a fair tax process. so people invest on the return, not invest based upon what the irs says. >> senator durbin, the opening position, as i sort of gleaned i
the election, and seems to have most of the political leverage, what is the realistic deal to be made in the next 23 days? >> first of all, i think something will happen. i hope it is large enough for people like me that want to see entitlement reform to vote for. the president has leverage and the republicans have leverage with the debt ceiling and the c.r. which ends in march and hopefully cooler heads will prevail. there are different theories coming forth on how to deal with this and again, chris, it is a unique moment in history, where every developed country in the world, economists on both sides of the aisle, know the greatest threat to our country is fiscal solvency and we have a situation where the minority party is trying to leverage the president into doing something that is great for our nation and it is a very unique time and i hope the president soon will see the light. >> chris: senator schumer, three weeks left. what is the compromise and,his is the important part, that both sides can live with, on taxes, spending cuts, and entitlement reform? >> well, i think we will
politicians do. the republicans lost the election. they know they're going to have to raise revenues. but i think the over-hyping of deficits the deficit mania that seized this town, is kind of crazy. i mean, i love alan simpson and erskine bowles, but they're talking about inflation at a moment when people are paying us money to invest in our treasury bonds. you know, the summer before last, when we had the debt ceiling negotiations, and everybody was saying oh, our credit is about to go down the tubes. the price of u.s. treasury bonds were going up. so the fact is that we have a problem. i'm hoping that we'll deal with it especially, you know, the old age entitlementes, because sooner or later you and i are going to be old enough to qualify for medicare, and we're going to at the present time to be a good system. but we i think a little rationality is called for. >> schieffer: you're saying it's not as bad as it seems. the fact of the matter swhen the bush tax cuts run out at the end of the year, when payroll tax-- whatever they call it, runs out at the end of the year, people's taxes are
Search Results 0 to 7 of about 8 (some duplicates have been removed)